2021-03-31-accounts

TASKER MILWARD AND PICTON CHARITY Charity Number 525678

TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021

Charity Trustees

Mr C G M Hughes, Chair of Trustees Mrs G Bryan MBE Mrs H Curtlin Mr B Hearne Mrs N Howells, Vice Chair Mr P K Lucas Mr J Morris Mrs C Williams

Name of body entitled to appoint Trustees

The governing body of Haverfordwest High VC School

Clerk to the Trustees Treasurer to the Trustees Mrs Anne Evans Mr Graham Morgan

Contact Address

11 Albert Street, Haverfordwest, Pembrokeshire SA61 1TA Email: [e-mail]

Bankers: Nat West Bank PLC Haverfordwest

Independent Examiner: Mr Howard Williams BSc

Investment Managers: COIF Charity Funds & CCLA Investment Managers

Structure Governance and Management:

The Charity is governed by a Scheme approved by the Charity Commission and sealed on 17[th] November 1983, as amended by Order dated 1[st] September 2018. The charity was formed as a result of the merger of the Tasker’s School for Girls Charity (scheme dated 13 December 1966) and the Haverfordwest Grammar School Charity (scheme dated 2 September 1964), the latter originating from a bequest in the will of John Milward (died 1654) shared between Haverfordwest Boys Grammar school and King Edward VI School in Birmingham.

The schools of the Charity, namely Tasker Milward VC and Sir Thomas Picton Schools Haverfordwest closed on 31[st] August 2018 and a new school, Haverfordwest High VC School, was established in their place on 1[st] September 2018. The newly merged school is currently accommodated on the site of the former Tasker Milward VC School whilst demolition and rebuilding takes place on the former Sir Thomas Picton School site. It is anticipated that the new buildings will be ready in 2022.

Eight trustees are appointed by Haverfordwest High VC School. They each serve for four years, after which time they are eligible for re-appointment. Two Trustee are appointed at the first governing body meeting of the school in each calendar year. The Trustees appoint a chair and vice chair in their first meeting of each calendar year. Trustees give of their time freely and no trustee remuneration is paid. The treasurer and independent examiner are unpaid but can claim properly incurred expenses in the administration of the business of the Charity. The clerk receives an honorarium. The Trustees appoint five Foundation Governors to serve on the Governing Body of Haverfordwest High VC School. Two trustees retired during 2020/21 and have been replaced by new trustees.

Trustees are required by the governing scheme to hold at least two ordinary meetings a year. In practice, the Trustees normally meet termly, following the governing body meeting of the school which benefits from the Charity, in order to consider applications for grants approved for submission by the governors. A fourth meeting is also normally held early in the academic year to consider applications from individuals responding to an advertisement inviting such applications. However, the Trustees did not physically meet during year ended March 2021 due to Corona virus restrictions the last meeting having taken place in December 2019. Instead decisions were made via electronic communications.

The Charity does not actively fund raise and seeks to comply with the provisions of the governance scheme through careful stewardship of its existing resources. The Charity’s income is generated from investment of capital.

Objectives of the Charity

The Charity provides grants to Haverfordwest High VC School and to individuals under the age of 25 years who are attending, or have at some time attended, Haverfordwest High VC School or its predecessor schools (Tasker Milward VC and Sir Thomas Picton Schools), to promote their education, including social and physical training and further and higher education courses, as the Trustees think fit in the light of their financial circumstances and other assistance available from public funds. The Trustees are responsible for the management of property of the Charity subject to and in conformity with the provisions of the governing Scheme.

Activities of the Charity to Further its Charitable Purposes for the Public Benefit

The Trustees discussed issues concerning property and provision at the new build. A small panel of three Trustees was established to draw up a strategy to raise awareness of the role of the Charity within the school population.

The Trustees considered regular reports from their Treasurer. They agreed renewal of Trustees’ liability insurance policy and Data Protection registration.

In furthering its charitable purposes for the public benefit, the Trustees allocated a significant amount to enable the new school build to upgrade the sound system in the main hall over and above Building Bulletin 93 provision and funds to enable the

school to purchase 128 Chromebooks and associated hardware and software to facilitate blended learning.

Following review of financial assistance available to students from public funds, grants were also awarded to one new student and one renewal to assist with the cost of pursuing courses of further and higher education.

The Trustees consulted with the Charity Commission concerning issues around the transfer of land once the school moves into its new location. This matter is on-going.

Policy on reserves

The Trustees have approved the following policy on reserves:

i) Investments are held for the purpose of generating an annual income which in turn is applied by Trustees for the purposes/objects of the Charity.

ii) Investments continue to be professionally managed and remain intact at all times to ensure an on-going flow of annual income to the Charity.

iii) Any positive cash flow remaining at the year’s end (i.e. annual income not expended in year) is held as working balances in a current account and a reserve account for payment in the next financial year.

The Trustees have approved the Trustees’ report above 03.12.21

Income:		£
Income from COIF Investments		57301.02
Schools of King Edward VI School, Birmingham 'J=arage Ground Rents		231.46 20.00
Ljank Interest		98.22
		57650.70
Expenditure:
Haverfordwest High	20000.00
Tasker Miivvard	15079.56
Sir Thomas Picton	2000.00
Students	2200.00
Clerk's Honorarium	900.00
Public Liabilfty Insurance	252.00
Administration	79.24 ,
Data Protection	40.00	40550.80
Surplus		17099.90
FxceDtional Items
Sale of share of 75 Sampson Rd, B'ham	270641.92
Les Invested in COIF Funds	270000.00	641.92
Total Increase in General Reserves		1 7741 . 82

	£	£
Accumulated Fund b/f	90960.18 Bank.Current Account	8687.96
+ Surplus for period	17741.82 Bank Reserve Account	100014.04
	108702.00	108702.00

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